Exchange rate starts to decrease

**Gutter Meat** · 09-10-2005, 07:43 PM

The US dollar was being bought yesterday at RD$0.50 less than the closing rate last Wednesday according to El Caribe. In the afternoon, it was being bought between RD$29.50 and RD$30.50 in different exchange agencies, while commercial banks closed with a minimum rate of RD$29.75 and a maximum rate of RD$30.25. The US currency was being sold at exchange agencies for RD$31.00 and RD$31.80 and at banks for RD$31.25 and RD$31.40. The decrease is expected to continue according to the president of the Association of Exchange Agents, Augusto Peignand. The announcement that the Dominican Petroleum Refinery will not be purchasing its foreign exchange on the market has influenced the decrease in the rate.
Listin Diario reports that the US dollar dropped by RD$1.50 in both purchase and sale rates. On Thursday afternoon the US currency was being sold at RD$30.50 and bought at RD$29.75.

**Kevy** · 09-10-2005, 08:58 PM

Actually Wednesday I got 30.6 at Judy's. It dropped to 29.6 by Friday.

**ErikS** · 09-20-2005, 10:30 AM

I got 30.5 on Saturday (17 Sept) on the street in Sosua. I also took 6,000 DR pesos from an ATM in Satiago that same day. Just checked my bank accont and it converted at a rate of 30.42

30.7 today on the street in Sosua. Note that is with negotiation. Never take their first offer.

The Europa Hotel has had a posted rate of 30 to 1 since I arrived on Saturday.

I'm off to M&M massage now for my 500 peso (approx $16.00) one hour GREAT massage.

Not bad!!!!

**JDR** · 09-20-2005, 10:49 AM

With the 10,000 layoffs, things may change.

**the_Jayman** · 09-20-2005, 10:53 AM

I want 48 to 1

**JDR** · 09-20-2005, 10:54 AM

Originally Posted by the_Jayman

I want 48 to 1

If I can get 500 peso chicas at 35 to 1, I will be very happy.

**Jthomas** · 09-20-2005, 11:59 AM

Originally Posted by the_Jayman

I want 48 to 1

I am with Jayman....48 to 1 is the way to go. It makes my bar bill so much lighter. Drinks for everyone!

**Jthomas** · 09-20-2005, 12:01 PM

Originally Posted by JDR

With the 10,000 layoffs, things may change.

Are you refering to the sugar cane deal??? That is going to have a big impact on this and other neighboring countries.

**WSJ3** · 09-20-2005, 12:15 PM

I was just there and received 31-1 in Santiago...

**guttaman** · 09-20-2005, 12:38 PM

Originally Posted by JTHOMAS2003

Originally Posted by JDR

With the 10,000 layoffs, things may change.

Are you refering to the sugar cane deal??? That is going to have a big impact on this and other neighboring countries.

I think tourism layoffs.

**Jthomas** · 09-20-2005, 12:45 PM

Originally Posted by guttaman

Originally Posted by JTHOMAS2003

Originally Posted by JDR

With the 10,000 layoffs, things may change.

Are you refering to the sugar cane deal??? That is going to have a big impact on this and other neighboring countries.

I think tourism layoffs.

OH...I had not seen anything on this. There is going to be massive layoffs in the sugar cane industry with the EU not renewing the deal to buy sugar from the Islands. One of the islands already laid everyone off and closed the government operated plant. I know this is going to have a effect on the Dominicans as well.

**guttaman** · 09-20-2005, 01:21 PM

Shit, massive layoffs in the La Vega area 1 1/2 months ago with many companies not following labor laws and hiring more than 20% non DR workers. CAFTA coming into play and fuel prices going up. Over building in Punta Cana with all the non labor $ going to foreign investors. I was at a seminar yesterday for an investment in Punta Cana for a friend of mine as a friend only. No monetary gain for me. It was in a big conference room at the Roxbury YMCA. There were going to be 17 other potential investors at this meeting. My friend was the only investor who showwed up with me in tow. The HARD SELL was pitched before we even had our coffee. All they had was a plot plan and wanted him to go to Punta Cana Next week. He had to pay his own way and fly into SDQ. When i told the dudes there was an airport next door they were annoyed. Then they said they will go to Boca Chica afterwards to sign the deal. Booze and whores. At that point i got escorted out of the meeting for i was the only non brother in a 10 block radius ( i left very peacefully ) and must have hit their con dead on. With tourism hurting and and double the estimated holel rooms being built the DR will always be a cheap place to stay ( minus Airfare ) and anyone looking to invest unless they live there 24/7 is better off investing in CMGI in the year 2000. The exchange rate will go to 35 to 1 when a 1 lb pack of Kraft cheese cost 350 pesos.

**Jthomas** · 09-20-2005, 01:24 PM

And how much were they trying to nail you for? Was this some kind of time share they were pushing?

**guttaman** · 09-20-2005, 02:18 PM

It was a stage 2 of a 7 stage AI, 12 high end units to be divided to 1/4 shares ownwership in each unit. Most looked good until they pulled the after 30 years the units go back to the corporation. Originally it was a life time ownership but turned into a rebuy after the 30. I was doing my buddy a favor. Everything was in Spanish with Dominican Financing. These fucking dudes did not even have the politeness to take out the KY before trying to fuck him in the ass.

**Kevy** · 09-20-2005, 02:21 PM

This makes the guys at the beach trying to drag you to the time share hard sell look decent.

**Jthomas** · 09-20-2005, 03:25 PM

I hope they at least gave you free booze and food before they threw you out for being to smart.

**Kevy** · 09-20-2005, 03:32 PM

No I never went, the guys are there every day hassling you to go in. They get $10 a head.

**JDR** · 09-20-2005, 03:42 PM

Everyone is getting Laid-off. It should say increasing not decreasing.

**Kevy** · 09-20-2005, 03:45 PM

Plus the gas shortage and the electrical blackouts are getting longer. THis is just like it was in 2004, all we need now in the peso to decrease in value, something like 50-1.

**JDR** · 09-20-2005, 03:48 PM

Originally Posted by kevyboy

Plus the gas shortage and the electrical blackouts are getting longer. THis is just like it was in 2004, all we need now in the peso to decrease in value, something like 50-1.

Its bad luck, the gas was not his fault, but at the end, DR was meant to be a Monger Paradise.